Farm Rescue Receives $50,000 from Hess

05.23.2019

Farm Rescue, a nonprofit organization that provides planting, harvesting, haying and hay hauling assistance free of charge to farm and ranch families who have experienced a major illness, injury or natural disaster, received $50,000 in donated funds from Hess Corporation.

The contribution helped Farm Rescue purchase much needed equipment for its spring planting assistance efforts. In previous years, the nonprofit utilized sponsored tractors to pull its air seeding units. This year, however, Farm Rescue needed to purchase its own four-wheel drive tractors to power operations. Hess’ increased donation was instrumental in the fundraising campaign’s success, allowing the nonprofit to purchase a new John Deere 9620R tractor for 2019 and beyond.

Hess has been a sponsor of Farm Rescue since 2016 and has contributed a total of $100,000 in support of the Midwest-based nonprofit’s assistance operations.

"We are very thankful for the generosity and corporate citizenship shown by Hess,” said Bill Gross, Founder & President, Farm Rescue. “Hess is certainly creating a long-lasting, positive impact in the communities where we provide assistance services and is the largest energy sector sponsor of Farm Rescue.”

“Hess is proud to be a part of the great work that Farm Rescue is doing to ensure our area’s farmers in need receive assistance where possible,” said Brent Lohnes, Hess general manager in North Dakota. “As a long-time member of the North Dakota community Hess understands the need to support the people in our region who work on the front lines of the agricultural industry.”

Hess Reports Estimated Results for the First Quarter of 2020

Hess Corporation (NYSE: HES) today reported a net loss of $2,433 million, or $8.00 per common share, in the first quarter of 2020, including impairment and other after-tax charges of $2,251 million resulting from the low price environment, compared with net income of $32 million, or $0.09 per common share, in the first quarter of 2019. On an adjusted basis, the Corporation reported a net loss of $182 million, or $0.60 per common share, in the first quarter of 2020.

CEO John Hess addressed the far-reaching impact of the oil price war on CNBC’s Fast Money on March 12, saying: “The economic problem we're facing today is a lot more than oil, and the oil price crash could be a catalyst that propels the world into an economic recession.”